https://www.taxtmi.com/caselaws?id=209389 The Court upheld the Tribunal's decision to allow the business loss set-off on the purchase and sale of units of Unit Trust of India, based on legal interpretations and precedents. Additionally, the Court confirmed the disallowance of the department's claim for interest accrued on a loan advanced to another company, as the borrower company was unable to pay. Despite expressing a view in favor of the Revenue on speculation business, the Court was bound by the Supreme Court's decision in a similar case, resulting in the dismissal of the departmental appeal. en-us Thu, 30 Sep 2010 00:00:00 +0530 Fri, 14 Aug 2015 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209389 The Court upheld the Tribunal's decision to allow the business loss set-off on the purchase and sale of units of Unit Trust of India, based on legal interpretations and precedents. Additionally, the Court confirmed the disallowance of the department's claim for interest accrued on a loan advanced to another company, as the borrower company was unable to pay. Despite expressing a view in favor of the Revenue on speculation business, the Court was bound by the Supreme Court's decision in a similar case, resulting in the dismissal of the departmental appeal. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209389